Random Thoughts

I love the Red Sox!

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The tape acts firmer than a college cheerleader and I'm keying off the banks. The SOX, meanwhile, is sluggo and that's leading to an S's over N's type of day.

As the Dow is the "laggard," I rented some Dow Diamonds (DIA:Amex) as an upside hedge vs. my cheap paper (if and when). Full disclosure: I am actively trading, so please don't read into what I'm saying, I'm simply sharing the process.

Good luck to cousin Richard Mandelbaum!

S&P 910, Dow Jones 8450 and NDX 1100 are the technical support lines in the sand and can be used as "stop levels" on your longs (bulls) or upside hedges (bears).

When will the dollar start to matter? When everyone thinks it doesn't matter anymore.

The breadth has improved and is now almost 3:2 positive on the NYSE.

Watch Tyco (TYC:NYSE) as a huge market tell.

If I stuck with the Shim Sham, I'd be stylin' and profilin'. Then again, if wishes were knishes, I'd be pushin' 250 lbs.

Storage trades firm (QLogic (QLGC:Nasdaq)).

It's important for Minyans to understand that I actively "trade around" my book (thesis) when intraday opportunities arise. Example: I own Goldman Sachs (GS:NYSE) June 70 puts and "rented" some underlying, delta neutral, this morning. While my big picture thesis on the financials remains uber-furry, I will dance until I see the whites of their eyes.

For the record, I am a Knicks fan and a Rangers fan. While Syracuse and the Raiders did me proud (Superbowl performance notwithstanding), I am not the bandwagon type. I'll suffer with my teams -- I did so with Oakland for many years -- it only makes the victory sweeter when it finally happens.